EX-11 9 form10q93004ex11.txt Exhibit 11 BellSouth Corporation Computation of Earnings Per Share (Dollars in Millions) For the Three Months For the Nine Ended Months Ended September 30, September 30, 2003 2004 2003 2004 ------------------------------------ EARNINGS PER SHARE - BASIC: ------------------------------------ Income From Continuing Operations Before Discontinued Operations and Cumulative Effect of Changes in Accounting Principle $ 894 $ 852 $ 2,652 $ 2,941 Discontinued Operations, net of tax 42 (53) 150 453 Cumulative Effect of Changes in Accounting Principle, net of tax -- -- 315 -- ----- ----- ------- ------- Net Income $936 $799 $3,117 $3,394 ===== ===== ======= ======= Weighted Average Shares Outstanding 1,847 1,831 1,851 1,832 Earnings Per Common Share Before Discontinued Operations and Cumulative Effect of Changes in Accounting Principle $ 0.48 $ 0.47 $ 1.43 $ 1.61 Discontinued Operations, net of tax 0.02 (0.03) 0.08 0.25 Cumulative Effect of Changes in Accounting Principle, net of tax -- -- 0.17 -- ------ ------ ------ ------ Earnings Per Share* $ 0.51 $ 0.44 $ 1.68 $ 1.85 ====== ====== ====== ====== ------------------------------------ EARNINGS PER SHARE - DILUTED: ------------------------------------ Income From Continuing Operations Before Discontinued Operations and Cumulative Effect of Changes in Accounting Principle $ 894 $ 852 $ 2,652 $2,941 Discontinued Operations, net of tax 42 (53) 150 453 Cumulative Effect of Changes in Accounting Principle, net of tax -- -- 315 -- ------ ------ ------ ------ Net Income $936 $799 $3,117 $3,394 ====== ====== ====== ====== Weighted Average Shares Outstanding 1,847 1,831 1,851 1,832 Incremental shares from assumed exercise of stock options and payment of performance share awards 4 4 3 4 ------ ------ ------ ------ Diluted Shares Outstanding 1,851 1,835 1,854 1,836 ====== ====== ====== ====== Earnings Per Common Share Before Discontinued Operations and Cumulative Effect of Changes in Accounting Principle $ 0.48 $ 0.46 $ 1.43 $ 1.60 Discontinued Operations, net of tax 0.02 (0.03) 0.08 0.25 Cumulative Effect of Changes in Accounting Principle, net of tax -- -- 0.17 -- ------ ------ ------ ------ Earnings Per Share* $ 0.51 $ 0.44 $ 1.68 $ 1.85 ====== ====== ====== ====== *Earnings Per Share does not sum due to rounding.